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File ID: #17237
Resolution
Sponsored by: Commissioner Manolo Reyes
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
PURSUANT TO SECTION 18-85(A) OF THE CODE OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED, BY A FOUR FIFTHS (4/5THS) AFFIRMATIVE VOTE,
AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND
CONFIRMING THE CITY MANAGER'S FINDINGS, ATTACHED AND
INCORPORATED AS EXHIBIT "B," THAT COMPETITIVE NEGOTIATION METHODS
AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS FOR THE
CITY OF MIAMI ("CITY") AND WAIVING THE REQUIREMENTS FOR SAID
PROCEDURES; AUTHORIZING THE ALLOCATION AND APPROPRIATION OF
MIAMI FOREVER BOND ("MFB") PROGRAM FUNDS IN AN AMOUNT NOT TO
EXCEED FIVE MILLION, SEVEN HUNDRED THOUSAND AND 00/100 DOLLARS
($5,700,000.00) FROM THE DISTRICT 4 COMMISSIONER'S SHARE OF MFB FUNDS
("FUNDS") TO 5350 FLAGLER STREET, LLC ("DEVELOPER"), TO CONSTRUCT AN
AFFORDABLE HOUSING DEVELOPMENT, LOCATED AT 5350 WEST FLAGLER
STREET, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A,"
ATTACHED AND INCORPORATED ("PROJECT"), SUBJECT TO COMPLIANCE WITH
THE CITY'S DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
GUIDELINES, THE RECEIPT BY THE CITY MANAGER OF THE WRITTEN
APPROVAL OF THE PROJECT BY THE CITY'S HOUSING AND COMMERCIAL
LOAN COMMITTEE ("HCLC") AND SUBJECT TO THE TERMS, CONDITIONS, AND
RESTRICTIONS CONTAINED IN THE HCLC APPROVAL (COLLECTIVELY, "HCLC
APPROVAL"), AND ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE
THE USE OF SUCH FUNDS FOR SAID PURPOSE; FURTHER AUTHORIZING THE
CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY
DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS,
ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE,
SUBJECT TO THE RECEIPT BY THE CITY MANAGER OF HCLC'S WRITTEN
APPROVAL.
City of Miami
Legislation
Resolution
Enactment Number: R-25-0061
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17237 Final Action Date:2/27/2025
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
PURSUANT TO SECTION 18-85(A) OF THE CODE OF THE CITY OF MIAMI,
FLORIDA, AS AMENDED, BY A FOUR FIFTHS (4/5THS) AFFIRMATIVE VOTE,
AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND
CONFIRMING THE CITY MANAGER'S FINDINGS, ATTACHED AND
INCORPORATED AS EXHIBIT "B," THAT COMPETITIVE NEGOTIATION METHODS
AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS FOR THE
CITY OF MIAMI ("CITY") AND WAIVING THE REQUIREMENTS FOR SAID
PROCEDURES; AUTHORIZING THE ALLOCATION AND APPROPRIATION OF
MIAMI FOREVER BOND ("MFB") PROGRAM FUNDS IN AN AMOUNT NOT TO
EXCEED FIVE MILLION, SEVEN HUNDRED THOUSAND AND 00/100 DOLLARS
($5,700,000.00) FROM THE DISTRICT 4 COMMISSIONER'S SHARE OF MFB FUNDS
("FUNDS") TO 5350 FLAGLER STREET, LLC ("DEVELOPER"), TO CONSTRUCT AN
AFFORDABLE HOUSING DEVELOPMENT, LOCATED AT 5350 WEST FLAGLER
STREET, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A,"
ATTACHED AND INCORPORATED ("PROJECT"), SUBJECT TO COMPLIANCE WITH
THE CITY'S DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
GUIDELINES, THE RECEIPT BY THE CITY MANAGER OF THE WRITTEN
APPROVAL OF THE PROJECT BY THE CITY'S HOUSING AND COMMERCIAL
LOAN COMMITTEE ("HCLC") AND SUBJECT TO THE TERMS, CONDITIONS, AND
RESTRICTIONS CONTAINED IN THE HCLC APPROVAL (COLLECTIVELY, "HCLC
APPROVAL"), AND ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE
THE USE OF SUCH FUNDS FOR SAID PURPOSE; FURTHER AUTHORIZING THE
CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY
DOCUMENTS, INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS,
ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE,
SUBJECT TO THE RECEIPT BY THE CITY MANAGER OF HCLC'S WRITTEN
APPROVAL.
WHEREAS, on March 14, 2019, pursuant to Resolution Nos. R-19-0062 and R-19-0111,
the City Commission authorized the initiation of validation proceedings for the November 7,
2017 Bond Referendum ("Voter Referendum") and the issuance of the City's taxable and tax-
exempt bonds in the aggregate principal amount not exceeding Four Hundred Million Dollars
($400,000,000.00) in one or more separate series of City Tax -Exempt and Taxable Limited Ad
Valorem Tax Bonds (collectively, "Miami Forever Bonds"), including tax-exempt and taxable
bonds in one or more separate series not exceeding One Hundred Million Dollars
($100,000,000.00) for affordable housing and economic development capital projects
("Affordable Housing and Economic Development Bonds") of which an amount not to exceed
Fifteen Million Dollars ($15,000,000.00) was proposed for the first Declaration of Intent to
Reimburse; and
WHEREAS, for all series of the Affordable Housing and Economic Development Bonds,
Resolution Nos. R-19-0111, R-19-0325, and R-20-0337 set forth the aforementioned seven (7)
Affordable Housing Miami Forever Bonds Projects Strategies as follows: i) Affordable Workforce
New Rental Strategy, ii) Homeownership Preservation Strategy, iii) City Acquisition of Land, iv)
Affordable Homeownership Strategy, v) Affordable Rental Housing Preservation Strategy, vi)
Affordable New Construction Rental Strategy, and vii) Long Term Lease/Build/Manage Strategy;
and
WHEREAS, the City Acquisition of Land Strategy ("Acquisition Strategy") permits the
City to acquire buildable vacant parcels of land suitable for the development of mixed use/mixed
income affordable rental or homeownership developments/units to be built by the City or by
organizations that have been procured through a competitive process; and
WHEREAS, the City Commission has set forth certain requirements, terms, and
conditions that are set forth in the City Acquisition of Land Program Summary, attached and
incorporated as Exhibit "C," for certain costs/activities that are eligible for City funding under the
Acquisition Strategy; and
WHEREAS, on November 16, 2023, pursuant to City of Miami ("City") Resolution No.
23-0519, the City Commission authorized the purchase of the property located at 5350 West
Flagler Street, Miami, Florida (Folio No. 01-4106-013-1790), as legally described in Exhibit "A",
attached and incorporated ("Parcel"), in the amount of Five Million and 00/100 Dollars
($5,000,000.00) using Miami Forever Limited Ad Valorem Bonds funds ("MFB Funds"); and
WHEREAS, on February 15, 2024, the City acquired the Parcel; and
WHEREAS, on November 21, 2024, 5350 Flagler Street, LLC, submitted to the City a
Letter of Request for the development of affordable rental housing project for low-income
seniors ("Project"); and
WHEREAS, the proposed Project is contingent upon successful remediation of existing
environmental conditions on the Parcel and an award of ninety-eight (98) units under the
Faircloth to RAD program by Miami -Dade County and HUD; and
WHEREAS, 5350 Flagler Street, LLC ("Developer"), is a Florida limited liability company
created for the development of the Project; and
WHEREAS, Related Urban (RUDG, LLC) is the parent company of Developer and
RUDG, LLC has completed various affordable housing developments within the City and
currently has others at various stages of construction and is currently in good standing with the
City; and
WHEREAS, it is the intent of the Developer and the City for the Project to be developed
as an affordable rental housing project for low-income seniors on the Parcel under a ninety-nine
(99) years ground lease ("Lease"); and
WHEREAS, on February 27, 2025, the City Commission adopted Resolution No. R-25-
0062 for the purpose of waiving the requirements of competitive negotiation methods and
procedures that are not considered practicable pursuant to sections 29-B(a) of the charter of the
City and section 18-182(c) for the purpose of authorizing the City Manager to execute a 99-year
ground lease of a city property located at 5350 West Flagler Street, Miami, Florida, to the
Developer for the development of the Project; and
WHEREAS, the City Commission hereby allocates an amount not to exceed Five Million,
Seven Hundred Thousand and 00/100 Dollars ($5,700,000.00) in MFB Funds for pre -
development and construction costs ("Development Costs") associated with the development of
the Project; and
WHEREAS, the City Commission has determined that it is in the best interests of the
City in accordance with the Voter Referendum, the Miami Forever Limited Ad Valorem Bonds
Final Validation Order of December 16, 2019 ("Bonds Validation Order"), all attached and
incorporated in Composite Exhibit "C," to authorize the allocation of Five Million, Seven Hundred
Thousand and 00/100 Dollars ($5,700,000.00) in MFB Funds for the development of the
Property for certain costs/activities that are eligible for City funding under the Affordable
Housing Long Term Lease/Build Manage Strategy; and
WHEREAS, such allocations shall be in compliance with all applicable Federal, State of
Florida, local, and City laws, rules, regulations, and procedures, including, but not limited to, the
Bonds Strategies, the Miami Forever Bond Validation Order, the Charter of the City of Miami,
Florida, as amended ("City Charter"), and the Code of the City of Miami, Florida, as amended
("City Code") (collectively, "Laws");
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as fully set forth in this Section.
Section 2. By a four -fifths (4/5ths) affirmative vote, after an advertised public hearing,
the City Manager's determinations, finding, and recommendation, attached and incorporated as
Exhibit "B," pursuant to Section 18-85(a) of the Code of the City of Miami, Florida, as amended,
are ratified, approved, and confirmed and the City Commission hereby waives the requirements
for said procedures.
Section 3. Subject to the receipt by the City Manager of the HCD/HCLC Approvals,
which shall be consistent with the City Commission approval, the City Commission hereby
authorizes' and directs the City Manager to allocate funding on a reimbursement basis in an
amount not to exceed Five Million, Seven Hundred Thousand and 00/100 Dollars
($5,700,000.00) for the Project being developed by the Developer provided that the Developer
fulfills any and all terms and conditions to be set forth in the HCD/HCLC Approvals, which shall
be consistent with the City Commission approval, and subject to compliance with all Laws.
Section 4. The City Manager is directed and authorized' to negotiate and execute the
Loan Agreement and any and all other necessary documents, including, but not limited to,
amendments thereto, all in forms acceptable to the City Attorney and Bond Counsel, for the
obligation of MFB Funds in an amount not to exceed Five Million, Seven Hundred Thousand
and 00/100 Dollars ($5,700,000.00) to the Developer subject to compliance with all applicable
Laws and for the purposes set forth in this Resolution.
Section 5. The City Commission hereby declares the City's official intent to issue
taxable Miami Forever Affordable Housing Bonds, in one or more series, to the extent
permissible under applicable laws, rules, and regulations regarding the Miami Forever
Affordable Housing Bonds, and use a portion of the Miami Forever Affordable Housing Bonds in
the total amount of Five Million, Seven Hundred Thousand and 00/100 Dollars ($5,700,000.00)
to reimburse the City for funds advanced by it for expenditures incurred and to be incurred with
respect to the Project and the purposes stated herein.
Section 6. This Resolution shall take effect immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
ge Wy y ng III, C y tor -y 5/7/2025